November 2024 Key Consumer Credit Insights

In the November 2024 Market Pulse Webinar, our panelists discussed real-world impacts of global economic trends. For a recap of that information, read an overview on the Insights Blog. 

Equifax Risk Advisor Maria Urtubey explained current consumer credit trends as we head into 2025. While this overview is meant to be a snapshot of the larger discussion, you can receive full access to the standard charts and graphs by reaching out to the Equifax Risk Advisory team: RiskAdvisors@Equifax.com.

November 2024 Consumer Credit Trends

As of July 2024, consumer originations decreased across most lending categories except first mortgage originations.¹
 

As of September 2024, outstanding mortgage and revolving consumer debt continue to climb YoY; non-revolving debt has slowed.²

As of September 2024, non-mortgage consumer debt outstanding has increased for auto and bankcards, while student loan, personal loans, and private label debt have fallen.²

September 2024 saw utilization and credit limit increases for bankcard and home equity, but decreases in both for private label.²

September 2024 delinquencies increased YoY – except for personal loan – confirming continued consumer stress.²

Stay in the know 

To receive full access to the standard charts and graphs referenced in this report, reach out to the Equifax Risk Advisory team: RiskAdvisors@Equifax.com.

Want to learn more? Read an overview of the full November 2024 Market Pulse webinar.

We hope you will join us for our December Market Pulse Webinar taking place on Thursday, December 5, 2024. We will analyze 2024’s economic outcomes. 

You can find our monthly Small Business Insights, National Consumer Credit Trends reports, the Market Pulse podcast, and more at our Market Pulse hub. 

Finally, connect with us on YouTube and LinkedIn for even more content to help you focus on forward. 

Sources:

1. Equifax US National Consumer Credit Trends Originations Report from October 2024 - Originations through July 2024

2. Equifax US National Consumer Credit Trends Portfolio Report from Oct 2024 - Data as of Sep 2024

(c) Equifax Inc. 2024. All Rights Reserved. The statistics provided herein are for informational and illustrative purposes only and shall not be used for any other purpose.

*The opinions, estimates, and forecasts presented herein are for general information use only. This material is based upon information that we consider to be reliable, but we do not represent that it is accurate or complete. No person should consider distribution of this material as making any representation or warranty with respect to such material and should not rely upon it as such. Equifax does not assume any liability for any loss that may result from the reliance by any person upon any such information or opinions. Such information and opinions are subject to change without notice. The opinions, estimates, forecasts, and other views published herein represent the views of the presenters as of the date indicated and do not necessarily represent the views of Equifax or its management.